Polyoxymethylene Market worth $3.3 Billion by 2018

The report “Polyoxymethylene Market by Applications (Electrical & Electronics, Consumer, Industrial, Transportation, and Others) & Geography - Trends & Forecasts to 2018”, defines and segments the polyoxymethylene market with analysis and forecasting of the revenue and consumption. It also identifies the driving and restraining factors for the polyoxymethylene market with the analysis of trends, opportunities, burning issues, and winning imperatives.

The market is segmented, and the consumption and revenues are forecasted on the basis of major regions such as North America, Western Europe, the Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of major end-user industries such as electrical & electronics, industrial, consumer, transportation, and others.

POM is a high performance engineering plastic that is used as light weight metal replacement plastic due to its various desirable properties. Its increasing application area in transportation industry and scope of development of the copolymer grade has fuelled the growth of POM, globally. POM replaces metals in various applications as its impact resistance is high and it weighs lighter than the metal. These factors add to the growth of the POM market.

Electrical and Electronics–Major Market for POM

POM is mainly used in electrical & electronics, industrial, consumer, transportation, and other applications. POM is used in a wide range of applications from fuel systems to capacitors. The use of POM by these industries helps them in making more efficient and effective products, to deliver better performance.

POM market to reach $3.3 billion by 2018

The market for POM in terms of revenue was estimated to be worth $2.2 billion in 2012 and is expected to reach $3.3 billion by 2018, expected to grow at a CAGR of 6.2%, in terms of revenue, from 2013 to 2018. APAC region dominated the POM market, accounting for 45.6% of the POM market revenue in 2012. APAC is expected to have the highest market revenue in 2018 followed by the Western European market. ROW, a collection of individual country markets, is expected to be the fastest growing market in the future, with a CAGR of 8.6% from 2013 to 2018, owing to the rising consumption in this region where the end-user markets of POM are growing steadily. The Western European market is expected to grow at a rate of 6.2%, in revenue terms and 4.1% in consumption terms from 2013 to 2018.

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